stock / 32.412/ 1490

14:40 17Sep09 RTRS-Taiwan stocks end at 14-month high; Taiwan Mobile up * Taiwan Mobile up after buying Carlyle's cable TV operator * Taiwan Glass surges on news of China investment * Main index seen trading between 7,300 and 7,700 next week (Updates indexes, quotes and details) TAIPEI, Sept 17 (Reuters) - Taiwan stocks ended up 0.5 percent at a 14-month high on Thursday, and Taiwan Mobile <3045.tw> shares outperformed after the company bought Carlyle Group's cable TV unit in Taiwan. The main TAIEX <.TWII> finished 37.06 points higher at 7,477.30. Shares of Taiwan Mobile, the island's No. 2 telecom operator, surged 6.67 percent to a more than 2-month closing high. The electronics sub-index <.TELI> rose 0.27 percent. Taiwan Mobile had agreed to pay $1 billion for Carlyle's Taiwan cable TV unit in a share swap deal and after Bank of America upgraded the firm to "buy" from "neutral". [ID:nTP276635] "Taiwan stocks continued tracking gains on Wall Street and other regional markets, after positive economics data in the United States suggested a global economic recovery and prompted buying," said Alan Tseng, a vice president at Capital Securities. U.S. stocks rose for a third day on Wednesday, as U.S. industrial output advanced for a second consecutive month in August, while a government report showed a bigger-than-expected drop in crude inventories last week, indicating higher demand. [ID:nN16118540] But technology shares <.TELI> curbed the main index's gain. The technology sub-index had risen more than 70 percent since the beginning of this year. "Technology shares are going through a reasonable correction," said Tseng, who expects the main index to trade between 7,300 and 7,500 next week. Turnover was active at T$147 billion ($4.5 billion), up from Wednesday's T$132 billion. The glass and ceramic sub-index <.TGLI> was the market's top gainer, jumping 5.65 percent. Taiwan Glass <1802.tw>, the island's largest glass maker, surged nearly 7 percent on a media report it will spend T$16 billion to build a new factory in China, the company's largest-ever investment. Construction shares <.TCOI> shot up 3.25 percent after a local newspaper reported that average prices of a luxury mansion project in Taipei hit a record T$700 million. Real estate developer Farglory <5522.tw> jumped 5.51 percent. "Asset-related shares outperformed today, as investors bought construction shares to retain value in a stronger Taiwan dollar," Tseng said. The banking and insurance sub-index <.TFNI> climbed 1.27 percent, with Chinatrust Financial <2891.tw> up 4.74 percent. For a table of foreign trading in Taiwan stocks, double-click on [ID:nTP170358] ---------------------TAIEX IN PERSPECTIVE------------------ Move on day 0.5 pct Close on day 7,477.30 2009 intraday high 7,513.73 2009 intraday low 4,164.19 All-time high 12,682.41 12 FEB 1990 -------------------------------------------------------------- (Reporting by Joan Hsu; Editing by Ken Wills) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)) ASIA-PACIFIC STOCK MARKETS: Pan-Asia......[STXNEWS/AS] Japan........[.T] S.Korea....[.KS] S.E. Asia............[.SO] Hong Kong...[.HK] Taiwan.....[.TW] Australia/NZ.........[.AX] India.......[.BO] China......[.SS] OTHER MARKETS: Wall Street...........[.N] Gold.........[GOL/] Currency..[FRX/] Eurostocks...........[.EU] Oil...........[O/R] JP bonds...[JP/] ADR Report..........[ADR/] LME metals..[MET/L] US bonds...[US/] Stocks News US...[STXNEWS/US] Stocks News Europe...[STXNEWS/EU] DIARIES & DATA: IPO diary & data Asia earnings diary [ASIA/EQTY] U.S. earnings diary [RESF/US] European diary [WEU/EQTY] Taiwan diary [TW/DIARY] Wall Street Week Ahead [.N/O] Eurostocks Week Ahead [.EU/O] World forecasts TOP NEWS: For top Asian company news, double click on: [nTOPEQA] U.S. company news [TOP/EQU] European company news [TOP/EQE] Forex news [TOP/FRX] Global Economy news [TOP/MACRO] Technology news [TOP/TECH] Telecoms news [TOP/TELCO] Media news [TOP/MEDIA] Banking news [TOP/FIN] Politics/General news [TOP/G] Asia Macro data A multimedia version of Reuters Top News is available at:
[Story not fully loaded, incomplete text]